KUALA LUMPUR: Crane manufacturer Favelle Favco Bhd's subsidiaries have secured three purchase orders, totalling RM45.50 million, from Nov 11, 2022 until today.

In a filing with Bursa Malaysia, Favelle Favco said its wholly-owned unit, Favelle Favco Cranes (M) Sdn Bhd, had bagged two offshore crane supply contracts with Malaysia Marine and Heavy Engineering Sdn Bhd and Ocean Might Sdn Bhd.

It said the first contract is expected to be delivered by early 2024 while the second one is between end-2023 and early 2024.

Favelle Favco said its Denmark-based unit, Kroll Cranes A/S, had secured a tower crane supply contract with Daewoo Shipbuilding and Marine Engineering Co Ltd, which is expected to be delivered by end-2023.

It said the contracts are expected to contribute positively to the company's earnings and net assets for the financial year ending Dec 31, 2023 and beyond but do not have any impact on the share capital and shareholding structure of the group.